Cinctive Capital Management LP Sells 146,553 Shares of Inari Medical, Inc. (NASDAQ:NARI)

Cinctive Capital Management LP lowered its stake in shares of Inari Medical, Inc. (NASDAQ:NARI - Free Report) by 82.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,277 shares of the company's stock after selling 146,553 shares during the quarter. Cinctive Capital Management LP owned about 0.06% of Inari Medical worth $1,331,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Bamco Inc. NY grew its position in Inari Medical by 29.5% during the third quarter. Bamco Inc. NY now owns 1,006,129 shares of the company's stock worth $41,493,000 after buying an additional 228,977 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in Inari Medical by 44.2% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,113 shares of the company's stock worth $128,000 after purchasing an additional 954 shares during the last quarter. Edgestream Partners L.P. bought a new position in Inari Medical during the 3rd quarter worth $776,000. Verition Fund Management LLC acquired a new stake in Inari Medical during the 3rd quarter worth about $1,235,000. Finally, Vestal Point Capital LP grew its holdings in Inari Medical by 342.9% during the 3rd quarter. Vestal Point Capital LP now owns 1,550,000 shares of the company's stock worth $63,922,000 after acquiring an additional 1,200,000 shares during the period. Institutional investors and hedge funds own 90.98% of the company's stock.

Insiders Place Their Bets

In related news, Director William Hoffman sold 60,000 shares of Inari Medical stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $51.16, for a total value of $3,069,600.00. Following the completion of the transaction, the director now directly owns 501,233 shares in the company, valued at approximately $25,643,080.28. The trade was a 10.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch C. Hill sold 3,000 shares of Inari Medical stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $45.13, for a total transaction of $135,390.00. Following the completion of the transaction, the chief financial officer now owns 179,600 shares of the company's stock, valued at $8,105,348. This represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,000 shares of company stock valued at $8,990,990 in the last 90 days. 10.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NARI has been the subject of several research reports. Canaccord Genuity Group raised their target price on Inari Medical from $71.00 to $74.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Needham & Company LLC restated a "hold" rating on shares of Inari Medical in a research note on Tuesday, October 29th. Truist Financial raised their target price on Inari Medical from $46.00 to $50.00 and gave the company a "hold" rating in a research note on Tuesday, October 29th. Leerink Partnrs upgraded Inari Medical to a "hold" rating in a research note on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Inari Medical in a research note on Friday, August 9th. They set a "buy" rating and a $68.00 price target for the company. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $58.89.

Inari Medical Stock Performance

Shares of Inari Medical stock traded up $0.65 during mid-day trading on Wednesday, hitting $52.20. 554,439 shares of the stock were exchanged, compared to its average volume of 976,121. Inari Medical, Inc. has a 12 month low of $36.73 and a 12 month high of $67.13. The company has a 50-day simple moving average of $46.88 and a 200 day simple moving average of $47.65. The company has a market capitalization of $3.06 billion, a P/E ratio of -38.67 and a beta of 0.97.

About Inari Medical

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, a large bore catheter-based aspiration and mechanical thrombectomy system to remove large clots from large vessels in the peripheral vasculature for treating pulmonary embolism and other complex venous thromboembolism cases; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.